28/11/2023 09:09

Pilbara Minerals Ltd (PLS) $3.55

PLS has already fallen 37% from its 2023 high, with the stock not being helped as it appears the vehicle of choice for short sellers, PLS now has 18.3% of their float short-sold, leading us to question who is left to sell!

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23/11/2023 09:10

Pilbara Minerals Ltd (PLS) $3.54

PLS halved last year, why not this one? So far, PLS has corrected ~35% in 2023, catching many ESG investors in a crowded trade. PLS is currently the most shorted stock on the ASX, with 18.5% of its shares held by short sellers, a massive position that will take a huge effort to cover if/when the lithium price turns.

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14/11/2023 09:31

Pilbara Minerals Ltd (PLS) $3.48

Popular lithium play PLS is now incredibly 17.6% short-sold, on the surface, it would appear that the stock was either heavily over-priced or these traders could be in for a rude awakening. However, in the case of PLS, it is all about the lithium price as opposed to the weaknesses within the company itself, lithium has tumbled by ~75% in 2023

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24/10/2023 09:00

Pilbara Minerals (PLS) v Mineral Resources (MIN)

After weeks of deliberation, we added to our Mineral Resources (MIN) position yesterday, catching the proverbial falling knife with the stock down over -40% from its 2023 high. We have been planning/flagging this move since the lithium sector started falling, but as we’ve said repeatedly, “it just didn’t feel right.”- I can imagine a few readers thinking how did yesterday feel right, with Pilbara Minerals (PLS) -7.3%, but it was the panic which saw us make the move.

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20/10/2023 09:21

Pilbara Minerals Ltd (PLS) $3.86

PLS fell in a similar manner to AKE, ending the session over -5% lower, making the huge short position even more comfortable. We've written a few times over recent months that PLS et al. haven’t felt right with regard to increasing our exposure to the previously hot ESG space, but the more downgrades we read, the more it feels like it’s time to start ringing the bell.

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10/10/2023 09:20

Pilbara Minerals Ltd (PLS) $3.73

PLS keeps on slipping lower, it’s now corrected over 31% from its July high as both the lithium price and related stocks continue to struggle. We believe value is starting to present itself, especially for quality stocks like PLS, which hold $3.3bn in cash and continued strong FCF (Free cash flow) generation, we could see an upsized return to shareholders in the near term.

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21/09/2023 09:40

Pilbara Minerals Ltd (PLS) $4.14

Market favourite PLS fell another -2.8% on Wednesday taking its pullback from recent highs to more than 24%, we always said lithium would be a volatile ride! This lithium miner has been kind to MM in both our Flagship Growth and Emerging Companies Portfolios in the past, and we have been considering re-entering into the current weakness.

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14/09/2023 09:17

Pilbara Minerals (PLS) $4.40

PLS fell -4.4% yesterday as it struggles to hold onto its small year-to-date gain hindered by the lithium price continuing to drift lower. We can see PLS breaking its recent low, but this would be an accumulation opportunity in our view.

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08/09/2023 09:15

Pilbara Minerals (PLS) $4.62

PLS is arguably the best option for a larger suitor with this almost $14bn business having a significant global resource plus its already making a profit and paying a dividend i.e. far less uncertainty.

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29/08/2023 09:21

Pilbara Minerals Ltd (PLS) $4.51

PLS has come under selling pressure after last week’s disappointing earnings report which saw rising costs and a substantial increase in capex leaving many analysts cautious – struggles with costs has been an ongoing issue with many Australian miners through the current reporting period. The miner is operationally ahead of its peers with a Tier 1 asset and $3.4bn of cash on its balance sheet giving room for a special dividend &/or buybacks. Hence after its recent -20% correction we believe the risk/reward has returned for the buyers but we must remain conscious as we touched on earlier this is a volatile space and analysts are currently lukewarm at best.

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